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Highlights

  • Boss Energy rises 13% to AU$2.52 after hitting AU$2.60 intraday, tracking positive production update.

  • March quarter uranium output surges, with U3O8 drummed more than doubling from previous quarter.

  • Stock gains momentum from company presentation at Resources Rising Stars conference and broader market rally.

Shares of ASX-listed uranium producer Boss Energy Ltd (ASX: BOE) surged on Thursday, climbing as much as 16.6% in early trade to AU$2.60 before settling at AU$2.52 by midday — a 13% rise from the previous day’s close of AU$2.23. The rally came as the broader ASX 200 index rose 4.9%, buoyed by a global market rebound triggered by U.S. President Donald Trump's decision to ease back on his global tariff campaign.

The significant upward move in Boss shares follows the company’s release of its March quarter production and sales results from the Honeymoon uranium project in South Australia. Investors responded positively to the report, which showed steady operational momentum and rising output — even as the project continues through its ramp-up phase.

During the quarter ending 31 March, Boss reported 246,869 pounds of ion exchange (IX) uranium production, a 15% increase over the previous quarter. More notably, the company drummed 295,819 pounds of U3O8 — a refined uranium product — representing a 116% jump compared to the December quarter.

Management attributed the high drummed volume to the processing of inventory carried over from previous periods, which was advanced through the drying and packing stages. This process included overcoming some commissioning challenges with the kiln and baghouse — equipment critical for the final stages of uranium preparation.

February stood out as a milestone month, with Boss achieving record drummed production of 123,188 pounds of U3O8. That monthly output translates to an annualised run-rate of approximately 1.5 million pounds — a significant figure for a project still progressing through its early production phase.

The company has reaffirmed its production guidance for the 2025 financial year, targeting 850,000 pounds of U3O8 drummed by June 30. 

The stock’s rise also coincides with Boss Energy’s participation in the Resources Rising Stars conference, where management is engaging with investors and industry stakeholders. Market observers believe the timing of the conference presentation has provided a secondary boost to sentiment, particularly among retail investors and institutions tracking Australia’s fast-evolving uranium sector.